Mono Connect API
Banking & Fintech · Financial Data & Markets · Payment Gateways & Processors · Identity Verification & KYC · Lending & Credit
Mono is a Nigerian open banking and financial data infrastructure company that enables developers to build financial products by connecting customer bank accounts for data access, payments, and identity verification. Founded in 2020 by Abdul Hassan and Prakhar Sharma, Mono has raised funding from Sequoia Capital India and other top investors, and is one of Africa's leading open banking providers, covering over 30 Nigerian banks and financial institutions.
Mono Connect API Highlights
Mono Connect API is verified for developer integrations in Nigeria and across African markets, providing documented endpoints, sandbox testing, and developer support.
Client Secret Key (passed as mono-sec-key in request headers)
Tiered by plan; rate limit headers returned in API responses
Nigeria
Ghana
KenyaMono Connect API is best for:
Nigerian fintechs, digital lenders, neobanks, personal finance tools, and payment platforms needing a complete open banking suite: real-time financial data, direct bank debits (DirectPay & DirectDebit), GSM loan recovery, bulk disbursements, and biometric KYC verification.
- DirectPay:1% per transaction capped at ₦1,000
- DirectDebit & GSM:competitive tiered mandate fees
- Disburse:low flat transfer fee per payout
- Financial Data (Connect & Statement Pages): subscription and volume-based tiers
- Identity Verification (Lookup & Prove):pay-as-you-go per query
- Free developer sandbox included
Mono Connect API Core Features & Capabilities
Features Included
Not Supported
Mono Connect API Supported Webhook Events
Requests include a mono-webhook-secret header matching your Mono secret key.
| Event Name | Trigger & Description |
|---|---|
mono.events.account_connected | Customer linked and authenticated their bank account. |
mono.events.account_updated | Customer account data and balance refreshed. |
mono.events.transaction_created | New bank transaction detected on connected account. |
mono.events.reauthorisation_required | Customer needs to re-enter bank credentials. |
Required Access Documents for Mono Connect API
- Mono Developer AccountRequiredCreate an account at mono.co to access API keys and the Connect widget configuration dashboard.
- Business Registration (CAC)RequiredCAC Certificate of Incorporation required for live mode access Mono performs KYB on integrating businesses.
- Director BVN and Government IDRequiredRequired as part of Mono's business onboarding KYC process for CBN compliance.
Different Mono Connect API use cases
- Credit Scoring for Nigerian Lenders:Nigerian digital lenders can use Mono Financial Data API to access a loan applicant's 12-month bank transaction history and income patterns enabling data-driven credit decisions without relying solely on BVN checks.
- Bank Debit for Loan Repayment:Lending platforms can use Mono DirectPay to automatically debit customers' bank accounts on repayment due dates at 1% capped NGN 1,000, cheaper than card networks for high-value repayment transactions.
- Account Balance Verification for Savings:Nigerian savings and investment apps can use Mono to verify a user's bank balance before requesting a transfer ensuring sufficient funds before initiating a deposit.
- Income Verification for Salary Advances:Nigerian earned wage access platforms can use Mono's income analysis endpoint to verify a user's salary credits over 3-6 months confirming eligibility for advance amounts without payslip uploads.
- KYC Identity Verification:Nigerian fintechs can use Mono Identity Verification to confirm BVN and NIN matches at onboarding satisfying CBN KYC requirements before activating a customer account.